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TX HB670
Bill
Status
11/12/2024
Primary Sponsor
John Bucy
Click for details
AI Summary
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Expands the authority to establish property tax limitations on homesteads of disabled and elderly individuals from only counties, municipalities, and junior college districts to any taxing unit other than a school district
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Allows surviving spouses who are disabled or at least 55 years old to retain the tax limitation on the residence homestead if the qualifying individual dies, provided the spouse continues to use the property as their homestead
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Permits homeowners who move to a different residence within the same taxing unit to transfer their tax limitation percentage to the new homestead through a calculated formula
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Taxing units may increase taxes on homesteads only when improvements (other than repairs or government-required modifications) add value to the property
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Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature authorizing these expanded tax limitation powers
Legislative Description
Relating to the authority of a taxing unit other than a school district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Property Interests
Last Action
Referred to Ways & Means
3/4/2025